摘要
This paper first examines the demographic transition in China and its impact on populationstructure, then by reviewing the pension system reform accompanied by overall market-oriented reform, reveals an unsustainability of the current pay-as-you-go (PAYG) system,and finally discusses related issues that are important to build up a sustainable pensionsystem and to support the transition from PAYG to a fully funded system.
This paper first examines the demographic transition in China and its impact on populationstructure, then by reviewing the pension system reform accompanied by overall market-oriented reform, reveals an unsustainability of the current pay-as-you-go (PAYG) system,and finally discusses related issues that are important to build up a sustainable pensionsystem and to support the transition from PAYG to a fully funded system.
